Although overall auto sales have had their ups and downs this year, Nissan has experienced steady growth in one of the most important auto markets in the world: China.
Nissan sold over 780,000 vehicles from January through August, growing 20 percent compared to last year. However, China has recently begun phasing out sales incentives in an effort to ward off the economic downturn, making the market especially volatile.
"There's a lot of macroeconomic headwinds, a lot of monetary tightening, concerns over inflation, concern over the knock-on effect of the clampdown measures in the property market. As you know, the stock market's not doing well. So the wealth effect indicators are a bit of a headwind,” says auto consultant Ashvin Chotai.
Despite volatility in the market, Nissan's Chinese partner Dongfeng Motor Co. Ltd aims to add another 1,000 dealer outlets to its existing sales network in China by 2015. That's just more than half the number outlined in Nissan's "Nissan Power 88" business plan. The automaker hopes that new dealerships in the region will fuel its goal of achieving 8% global market share by 2016.
Not only has Nissan been selling more cars, but the automaker has also been keeping customers happy. Dongfeng Nissan's dealerships recently topped non-luxury automotive brands in a sales satisfaction survey by J.D. Power, which measured factors including sales initiation to the delivery process. Nissan will undoubtedly aim to maintain this reputation as it continues to grow in the world's largest auto market.
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